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Midland Company buys tiles and prints different designs on them for souvenir and gift stores....

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Accounting

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Midland Company buys tiles and prints different designs on them for souvenir and gift stores. It buys the tiles from a small company in Europe, so at all times it keeps on hand a stock equal to the tiles needed for three months' sales. The tiles cost $125 each and must be paid for in cash. The company has 28,000 tiles in stock. Sales estimates, based on contracts received, are as follows for the next six months: January February March April May June 13,200 17,500 12,900 15,000 10,200 7,200 Required: a. & b. Estimate purchases (in units) and cash required to make purchases in January February, and March MIDLAND COMPANY Merchandise Purchases-Butlet For the Period Ended March 31 in units) Bouary February Units to be purchased Estimated cost Mrch Dr * NAY

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